Australia’s Ten Most Expensive Legal Tax Breaks
The Commonwealth Treasury’s 2016 Tax Expenditures Statement (published in January 2017) shows Australia’s ten most expensive tax breaks are:
- Main residence exemption from CGT: $61.5 billion.
- Concessional taxation of superannuation earnings $16.9 billion.
- Concessional taxation of superannuation contributions $16.9 billion.
- CGT discount for individuals and trusts $9.6 billion.
- GST exemption for fresh food $6.9 billion.
- GST exemption for education $4.5 billion.
- GST exemption for health services $4 billion.
- GST exemption for financial services $3.9 billion.
- Concessional taxation of termination benefits $2.6 billion.
- Exemption from interest withholding tax on securities $2.3 billion.
Similar posts you may like
- How the top 20% of air conditioning, refrigeration & heating businesses dominate the industry
Struggling to scale your HVAC business? Wondering what separates high-performing businesses from the rest? The top 20% of air conditioning, refrigeration, and heating Read more
- Tax Planning Sin 7: Inadequate Tax Planning Training
Most practice principals meet the Tax Practitioner Board requirements of thirty hours accounting and tax training per year. Unfortunately, this is normally exclusively related Read more
- Infamous Tax Evader – Martha Stewart
Martha Helen Stewart (c1941) is an American businesswoman, writer, and television personality. As founder of Martha Stewart Living Omnimedia she has gained success (a Read more
- Putting Lipstick on the Pig
Talk to anyone in the accounting industry and it’s very apparent that compliance fees are falling (and will continue to fall year on year). Read more
"You’d be stupid not to try to cut your tax bill and those that don’t are stupid in business"
- Bono: U2